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On 1.1.2019, Mumtaz Ltd. had outstanding in its books 1,000, 12% Debentures of Rs. 100 each. The interest is payable on 30th June & 31st December. On 1st Nov, 2019 the directors acquired in the open market Debentures of Rs. 5,000 @ Rs. 98.50 (ex-interest) for immediate cancellation. Cash outflow for given transaction is - (A) Rs. 4,925 (B) Rs. 5,000 (C) Rs. 5,125 (D) Rs. 5,230?
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On 1.1.2019, Mumtaz Ltd. had outstanding in its books 1,000, 12% Deben...
And 31st December every year. Calculate the amount of interest payable on 30th June 2019.
To calculate the amount of interest payable on 30th June 2019, we need to determine the interest rate and the time period for which interest is payable.
Given:
- Mumtaz Ltd. has 1,000 debentures of Rs. 100 each, with a total value of 1,000 * 100 = Rs. 100,000.
- The debentures carry an interest rate of 12%.
- Interest is payable on 30th June and 31st December every year.
Since the interest is payable semi-annually, the interest rate needs to be divided by 2 to get the rate for each interest payment.
Interest rate per payment = 12% / 2 = 6% = 0.06
To calculate the interest payable on 30th June 2019, we need to determine the time period between 1.1.2019 and 30th June 2019.
Time period = 30th June 2019 - 1.1.2019 = 179 days
Next, we can calculate the interest using the formula:
Interest = Principal * Rate * Time
Interest = Rs. 100,000 * 0.06 * (179/365)
Interest = Rs. 100,000 * 0.06 * 0.4904
Interest = Rs. 2,940.4
Therefore, the amount of interest payable on 30th June 2019 is Rs. 2,940.4.
To calculate the amount of interest payable on 30th June 2019, we need to determine the interest rate and the time period for which interest is payable.
Given:
- Mumtaz Ltd. has 1,000 debentures of Rs. 100 each, with a total value of 1,000 * 100 = Rs. 100,000.
- The debentures carry an interest rate of 12%.
- Interest is payable on 30th June and 31st December every year.
Since the interest is payable semi-annually, the interest rate needs to be divided by 2 to get the rate for each interest payment.
Interest rate per payment = 12% / 2 = 6% = 0.06
To calculate the interest payable on 30th June 2019, we need to determine the time period between 1.1.2019 and 30th June 2019.
Time period = 30th June 2019 - 1.1.2019 = 179 days
Next, we can calculate the interest using the formula:
Interest = Principal * Rate * Time
Interest = Rs. 100,000 * 0.06 * (179/365)
Interest = Rs. 100,000 * 0.06 * 0.4904
Interest = Rs. 2,940.4
Therefore, the amount of interest payable on 30th June 2019 is Rs. 2,940.4.
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On 1.1.2019, Mumtaz Ltd. had outstanding in its books 1,000, 12% Debentures of Rs. 100 each. The interest is payable on 30th June & 31st December. On 1st Nov, 2019 the directors acquired in the open market Debentures of Rs. 5,000 @ Rs. 98.50 (ex-interest) for immediate cancellation. Cash outflow for given transaction is - (A) Rs. 4,925 (B) Rs. 5,000 (C) Rs. 5,125 (D) Rs. 5,230?
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On 1.1.2019, Mumtaz Ltd. had outstanding in its books 1,000, 12% Debentures of Rs. 100 each. The interest is payable on 30th June & 31st December. On 1st Nov, 2019 the directors acquired in the open market Debentures of Rs. 5,000 @ Rs. 98.50 (ex-interest) for immediate cancellation. Cash outflow for given transaction is - (A) Rs. 4,925 (B) Rs. 5,000 (C) Rs. 5,125 (D) Rs. 5,230? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about On 1.1.2019, Mumtaz Ltd. had outstanding in its books 1,000, 12% Debentures of Rs. 100 each. The interest is payable on 30th June & 31st December. On 1st Nov, 2019 the directors acquired in the open market Debentures of Rs. 5,000 @ Rs. 98.50 (ex-interest) for immediate cancellation. Cash outflow for given transaction is - (A) Rs. 4,925 (B) Rs. 5,000 (C) Rs. 5,125 (D) Rs. 5,230? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for On 1.1.2019, Mumtaz Ltd. had outstanding in its books 1,000, 12% Debentures of Rs. 100 each. The interest is payable on 30th June & 31st December. On 1st Nov, 2019 the directors acquired in the open market Debentures of Rs. 5,000 @ Rs. 98.50 (ex-interest) for immediate cancellation. Cash outflow for given transaction is - (A) Rs. 4,925 (B) Rs. 5,000 (C) Rs. 5,125 (D) Rs. 5,230?.
On 1.1.2019, Mumtaz Ltd. had outstanding in its books 1,000, 12% Debentures of Rs. 100 each. The interest is payable on 30th June & 31st December. On 1st Nov, 2019 the directors acquired in the open market Debentures of Rs. 5,000 @ Rs. 98.50 (ex-interest) for immediate cancellation. Cash outflow for given transaction is - (A) Rs. 4,925 (B) Rs. 5,000 (C) Rs. 5,125 (D) Rs. 5,230? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about On 1.1.2019, Mumtaz Ltd. had outstanding in its books 1,000, 12% Debentures of Rs. 100 each. The interest is payable on 30th June & 31st December. On 1st Nov, 2019 the directors acquired in the open market Debentures of Rs. 5,000 @ Rs. 98.50 (ex-interest) for immediate cancellation. Cash outflow for given transaction is - (A) Rs. 4,925 (B) Rs. 5,000 (C) Rs. 5,125 (D) Rs. 5,230? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for On 1.1.2019, Mumtaz Ltd. had outstanding in its books 1,000, 12% Debentures of Rs. 100 each. The interest is payable on 30th June & 31st December. On 1st Nov, 2019 the directors acquired in the open market Debentures of Rs. 5,000 @ Rs. 98.50 (ex-interest) for immediate cancellation. Cash outflow for given transaction is - (A) Rs. 4,925 (B) Rs. 5,000 (C) Rs. 5,125 (D) Rs. 5,230?.
Solutions for On 1.1.2019, Mumtaz Ltd. had outstanding in its books 1,000, 12% Debentures of Rs. 100 each. The interest is payable on 30th June & 31st December. On 1st Nov, 2019 the directors acquired in the open market Debentures of Rs. 5,000 @ Rs. 98.50 (ex-interest) for immediate cancellation. Cash outflow for given transaction is - (A) Rs. 4,925 (B) Rs. 5,000 (C) Rs. 5,125 (D) Rs. 5,230? in English & in Hindi are available as part of our courses for CA Foundation.
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